Truro Herbal Company, an aspiring cannabis company in Nova Scotia, recently raised $1.2mm from four investors, including Chuck Rifici, on of the co-founders of Tweed, which is now Canopy Growth (TSX: CGC) (OTC: TWMJF). The company, which applied for a license in early 2014, is awaiting Health Canada approval to begin construction on its facility. Pre-licensed companies have struggled to raise capital, but Rifici bet on the team, which includes former Tweed Chief Medical Advisor, Dr. John Gillis.
The investment is to ride along with President Evan Price and his team and have some extra incentive to lend expertise. I hope to help them become Nova Scotia’s first Licensed Producer.
Chuck Rifici, Truro Herbal Company investor
Rifici, who is a Director at Aurora Cannabis (TSXV: ACB) (OTC: ACBFF), has been nominated to join the Board of Directors at Supreme Pharma (CSE: SL) (OTC: SPRWF), which is holding an election for its Directors on December 18th. We wrote about his participation in Supreme’s financing round this summer, and his beneficial ownership of SL was reported at 2mm shares, reflecting the initial investment. Rifici made an investment in Indoor Harvest (OTC: INQD), and he is also the CEO of Nesta Holdings, a privately-held Canadian company pursuing cannabis-related investments in the United States.
Read Harry Sullivan’s “Medical marijuana project in Truro receives major investment”: http://www.trurodaily.com/news/local/2016/11/24/medical-marijuana-project-planned-for-truro-receives-major-inves.html